Fifth Third Bank announces $100m investment in opportunity zones

Fifth Third Bank, National Association, has plans to invest $100 million in projects that support community development through four opportunity zone fund partners.

The funds will be used to develop projects in low-income urban and rural communities across the bank’s 10-state footprint. This investment represents one of the largest made by an institution with a social impact investment strategy in opportunity zones.

“We are committed to forging impactful partnerships that deliver community revitalization,” said Greg Carmichael, chairman, president and CEO, Fifth Third Bank. “We are proud to use this innovative approach to ensure our capital will serve the communities that are most in need.”

“This long-term investment in opportunity zones is a call to action for communities to partner with institutions that are aligned with making a social investment,” said Byna Elliott, chief enterprise responsibility officer. “Building affordable and middle-inco